The spot rate approaches to the intermediate resistance of its medium-term bearish channel to 1.4450 suggesting a decline in the short term. However a break of these levels would reach the upper limit of its channel to 1.4650.
According to previous events, the market indicates a bearish opportunity on the levels of 1.4450 with a 1st objective of 1.4330, then 1.4300. A break in 1.4480 would invalidate this scenario.
